Translator：Wang Qiyu

On March 27, 2020, Shanghai Landing Law Offices, acting as special legal counsel, assisted China Communications Third Navigation Engineering Bureau Co., Ltd. in the successful registration of 3 billion RMB super short-term commercial paper with the China Foreign Exchange Trade System (CFETS), a subsidiary of the China Central Depository & Clearing Co., Ltd. (CCDC).

Established in 1954, China Communications Third Navigation Engineering Bureau Co., Ltd. is a state-owned mega construction enterprise primarily engaged in various port and waterway projects, as well as infrastructure projects including highways, railways, bridges, tunnels, and municipal works. The successful registration of this super short-term commercial paper demonstrates the market's recognition of the company's strength and scale, enhancing its market image and providing robust financial support for its future development plans.

Shanghai Landing Law Offices, entrusted by China Communications Third Navigation Engineering Bureau Co., Ltd., assigned Lawyer Liu Zhaofu's team to serve as the special legal counsel for the bond registration. Lawyer Liu and his team members conducted a thorough and necessary examination and verification of the relevant matters and legal issues related to the registration, culminating in the issuance of a comprehensive legal opinion.